NYSE American Symbol – UEC
CORPUS CHRISTI, TX,
Oct. 4, 2018 /PRNewswire/
- Uranium Energy Corp. (NYSE American: UEC; "UEC" or
the "Company") is pleased to announce that it has now closed its
previously announced public offering of 12,613,049 units of the
Company (each, a "Unit"), at a price of $1.60 per Unit, for gross proceeds of
approximately $20 million (the
"Offering"). Each Unit consists of one common share of the
Company (each, a "Share") and one-half of one common share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will
entitle its holder to acquire one common share of the Company
(each, a "Warrant Share") at an exercise price of $2.05 per Warrant Share exercisable immediately
upon issuance and expiring 30 months from the closing of the
Offering.
The net proceeds of the Offering will be used to fund
exploration and development expenditures at the Company's projects
and for general corporate and working capital purposes.
H.C. Wainwright & Co., LLC and Haywood Securities Inc. acted
as joint book-running managers in connection with the Offering, and
TD Securities Inc., Eight Capital, Roth Capital Partners, LLC and
Sprott Private Wealth LP acted as co-managers.
A "shelf" registration statement relating to the shares of
common stock and warrants to be issued in the Offering was filed in
both in the United States with the
Securities and Exchange Commission (the "SEC") and declared
effective by the SEC on March 10,
2017 and in Canada.
A final prospectus supplement and accompanying prospectus
describing the terms of this Offering was filed in both
the United States and in
Canada. Copies of the final prospectus supplements and the
accompanying prospectus relating to the Offering may be obtained
from H.C. Wainwright & Co., LLC via email at
placements@hcwco.com, and in Canada from Haywood Securities Inc. at
ecm@haywood.com Electronic copies of the final
prospectus supplements and accompanying prospectus are also
available on the SEC's website at http://www.sec.gov or by visiting
the Company's profile on SEDAR at www.sedar.com.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any of the securities,
nor shall there be any sale of the securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration of qualification under the
securities laws of any state or jurisdiction. The securities
being offered have not been approved or disapproved by any
regulatory authority, nor has any such authority passed upon the
accuracy or adequacy of the prospectus supplement, the prospectus
or the Company's shelf registration statement.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. The Company's fully-licensed Hobson
Processing Facility is central to all of its projects in
South Texas, including the
Palangana ISR mine, the permitted Goliad ISR project and the
development-stage Burke Hollow ISR project. In Wyoming, UEC
controls the permitted Reno Creek ISR project. Additionally, the
Company controls a pipeline of advanced-stage uranium projects in
Arizona, Colorado, New
Mexico and Paraguay, and a
large, high-grade titanium project in Paraguay. The Company's
operations are managed by professionals with a recognized profile
for excellence in their industry, a profile based on many decades
of hands-on experience in the key facets of uranium exploration,
development and mining.
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian laws.
These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Any other statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans, "estimates" or
"intends", or stating that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and should be
viewed as "forward-looking statements". Such forward looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements, including statements regarding
whether or when the Offering may be completed and the anticipated
use of proceeds from the offering. Such risks and other factors
include, among others, the actual results of exploration
activities, variations in the underlying assumptions associated
with the estimation or realization of mineral resources, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares,
accidents, labor disputes and other risks of the mining industry
including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news
release.
Certain matters discussed in this news release and oral
statements made from time to time by representatives of the Company
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Federal
securities laws. Although the Company believes that the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that its
expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause
actual results to differ materially from those projected. Many of
these factors are beyond the Company's ability to control or
predict. Important factors that may cause actual results to differ
materially and that could impact the Company and the statements
contained in this news release can be found in the Company's
filings with the Securities and Exchange Commission. For
forward-looking statements in this news release, the Company claims
the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy
securities.
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SOURCE Uranium Energy Corp